Posted by Larry Doyle on April 15th, 2010 1:37 PM |
Will New York Attorney General Andrew Cuomo and SEC Chair Mary Schapiro have the balls to go after former White House car czar Steven Rattner for his role in a New York State Pension “pay to play” scandal?
We will learn a lot about Cuomo and Schapiro in the process. Let’s not overlook what we’ll learn about the White House, as well.
Recall that Rattner, prior to serving as car czar, was co-founder of Quadrangle, the firm implicated in the New York State Pension “pay to play” scheme exposed by Cuomo. The SEC had a separate investigation of Quadrangle’s activities, as well. (more…)
Posted by Larry Doyle on March 11th, 2010 9:31 AM |
Does crime pay on Wall Street?
When those implicated in ‘pay to play’ schemes on Wall Street are not dealt with in truly appropriate fashion, everybody loses. Why? We end up with a loss of confidence not only in the markets, but even moreso a loss of confidence in our judicial system. I am not so naive as to think that our fields of justice are level, but that doesn’t mean we should not pursue that goal and highlight inequities when and where we see them.
Those engaged in financial crimes or schemes including ‘pay to play’ should never be able to buy their own justice by writing a check. That system of justice will never truly dissuade those engaged in or attracted to ‘pay to play.’
I see a strong sign of just such a potential inequity this morning. It smells. (more…)